Boston Scientific (NYSE:BSX) PT Raised to $95.00

Boston Scientific (NYSE:BSX) had its target price lifted by Royal Bank of Canada from $85.00 to $95.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the medical equipment provider’s stock.

A number of other equities analysts have also weighed in on BSX. Canaccord Genuity Group increased their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Citigroup raised their price objective on Boston Scientific from $90.00 to $92.00 and gave the stock a buy rating in a research note on Thursday, August 22nd. Truist Financial raised their price objective on Boston Scientific from $86.00 to $90.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. TD Cowen raised their price objective on Boston Scientific from $77.00 to $86.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Boston Scientific from $73.00 to $78.00 and gave the stock a hold rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $87.60.

Boston Scientific Price Performance

NYSE:BSX opened at $87.10 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $81.21 and its two-hundred day moving average price is $76.44. The firm has a market capitalization of $128.27 billion, a price-to-earnings ratio of 70.81, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific has a 12-month low of $48.35 and a 12-month high of $87.28.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, analysts anticipate that Boston Scientific will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Eagle Bay Advisors LLC increased its position in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. First Foundation Advisors bought a new stake in Boston Scientific in the 1st quarter valued at about $25,000. Triad Wealth Partners LLC bought a new stake in Boston Scientific in the 2nd quarter valued at about $26,000. Andra AP fonden bought a new stake in Boston Scientific in the 2nd quarter valued at about $29,000. Finally, RiverPark Advisors LLC bought a new stake in Boston Scientific in the 1st quarter valued at about $30,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.